Question

A man invests Rs. $46875$ at $4\%$ per annum compound interest for $3$ years, then calculate the interest for the first year.

Answer 1

$C.I=P[{(1+\frac{r}{100})}^n-1]$

$⟹C.I=46875[{(1+\frac{4}{100})}^1-1]$

$=Rs.1875$